| NOTE 11 - SEGMENT REPORTING |
NOTE 11 – SEGMENTS
The Company follows
paragraph 280 of the FASB Accounting Standards Codification for disclosures about segment reporting. This Statement requires companies
to report information about operating segments in interim and annual financial statements. It also requires segment disclosures
about products and services, geographic areas, and major customers.
| |
|
Three Months Ended |
| |
|
March 31, |
|
March 31, |
| |
|
2016 |
|
2015 |
| Revenues: |
|
|
|
|
|
|
|
|
| Worlds Online |
|
$ |
213 |
|
|
$ |
503 |
|
| MariMed |
|
|
614,243 |
|
|
|
95,732 |
|
| Consolidated revenues |
|
$ |
614,456 |
|
|
$ |
96,235 |
|
| |
|
|
|
|
|
|
|
|
| Depreciation and amortization: |
|
|
|
|
|
|
|
|
| Worlds Online |
|
$ |
— |
|
|
$ |
— |
|
| MariMed |
|
|
35,439 |
|
|
|
6,667 |
|
| Depreciation and amortization |
|
$ |
35,439 |
|
|
$ |
6,667 |
|
| |
|
|
|
|
|
|
|
|
| Profit/(Loss) before taxes |
|
|
|
|
|
|
|
|
| Worlds Online |
|
$ |
(132,521 |
) |
|
$ |
(112,179 |
) |
| MariMed |
|
|
70,759 |
|
|
|
(206,776 |
) |
| Profit/(Loss) before taxes |
|
$ |
(61,762 |
) |
|
$ |
(318,956 |
) |
|
Capital Expenditures:
|
|
|
|
|
|
|
|
|
| Worlds Online |
|
$ |
— |
|
|
$ |
— |
|
| MariMed |
|
|
990,504 |
|
|
|
1,407,978 |
|
| Combined capital expenditures |
|
$ |
990,504 |
|
|
$ |
1,407,978 |
|
| |
|
|
|
|
|
|
|
|
| Assets: |
|
|
|
|
|
|
|
|
| Worlds Online |
|
$ |
20,311 |
|
|
$ |
32,605 |
|
| MariMed |
|
|
5,368,004 |
|
|
|
3,685,128 |
|
| Combined assets |
|
$ |
5,388,315 |
|
|
$ |
3,717,733 |
|
|